Sheikh Mohammed bin Zayed Al Nahyan stressed that the Comprehensive Economic Partnership Agreement is an important step in the country’s relations The UAE andSerbia With an emerging economy in a growing region of importance Europe.
He said that it is an advanced step in the path of our economic partnerships that empower business communities and enhance investment and opportunities through joint development projects in important sectors such as logistics services and food security, noting that Serbia is an important partner within the comprehensive economic partnerships program and that the agreement meets the common ambition of both the United Arab Emirates and Serbia. For a new era of cooperation and sustainable growth for the economies of the two countries.
For his part, the Serbian President stressed the importance of the agreement, expressing his aspiration that it would contribute to opening new horizons of cooperation to serve development and sustainable economic prosperity in the two countries.
The agreement was exchanged by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Tomislav Momirovic, Serbian Minister of Internal and Foreign Trade, bringing Serbia to the network of trade partners of the UAE under the umbrella of the Comprehensive Economic Partnership Agreements Program that the country has been implementing since September 2021.
The agreement will contribute to removing or reducing duties on customs tariff lines and unnecessary barriers to trade, protecting intellectual property rights, supporting small and medium-sized companies, and facilitating mutual investment flows.
The UAE is the third largest market for Serbian exports in the Middle East, while the increase in foreign direct investments has been directed towards high-priority sectors, which include renewable energy, agriculture, food security, infrastructure and logistics services.
The Comprehensive Economic Partnership Agreements program, which the UAE has continued to implement since the end of 2021, constitutes a fundamental pillar of the country’s growth strategy, which aims to double the total value of foreign trade to four trillion dirhams by 2031.
The agreements concluded so far within the program cover the regions of South America, the Middle East, Asia, Southeast Asia, and Eastern Europe.
